Adani Enterprises Q2 net profit halves to ₹228 crore

Decline primarily due to the weak performance in its key coal trading division

- Mayur Bhalerao

Adani Enterprises Ltd, the flagship company of the Adani Group, on Thursday said its conA solidated net profit for the September quarter declined by 50% to ₹227.82 crore, primarily due to a weak performance in its key coal trading division, Integrated Resources Management.

Adani Enterprises' net profit stood at ₹460.94 crore in the year-ago quarter.

Revenue from Integrated Resources Management, which includes revenue from a coal trading division, contributed about 80% to the revenue during the same period last year. This slumped 59% to ₹12,505 crore in the three months to September from ₹30,664 crore a year ago, impacted mainly by corrections in coal prices and lower sales volume.

The company's consolidated revenue in Q2 was at ₹22,517.3 crore, down 41% from ₹38,175.23 crore in the year ago quarter, according to a regulatory filing. This, despite other businesses, such as airports and new energy, reporting healthy growth.